Highfields Exits JPMorgan Stake While Cutting Capital One

Nov. 14 (Bloomberg) -- Highfields Capital Management LP,
the Boston hedge fund run by Jonathon Jacobson, sold its stake
in JPMorgan Chase & Co. and Oracle Corp. in the third quarter
and halved its holdings in Capital One Financial Corp.

Highfields sold more than 1.9 million shares of New York-based JPMorgan, the biggest U.S. lender, according to a
regulatory filing today. The hedge fund also sold 500,000 shares
of Capital One, the bank and credit-card issuer based in McLean,
Virginia, the filing shows.

The hedge fund eliminated its 3.4 million shares in Oracle,
the software company based in Redwood City, California founded
by Larry Ellison.

Highfields disclosed a 2.69 million-share stake in
Brookfield Office Properties Inc., the New York company that
owns, develops and manages office buildings, worth about $51.4
million at current prices. The fund also added 294,000 shares of
PacWest Bancorp, the Los Angeles-based bank holding company,
valued at about $11.5 million at today’s closing price.

Money managers who oversee more than $100 million in
equities must file a Form 13F with the U.S. Securities and
Exchange Commission within 45 days of each quarter’s end to list
their U.S.-traded stocks, options and convertible bonds. The
filings don’t show non-U.S. securities or how much cash the
firms hold.